Global water technology company A. O. Smith Corporation (the “Company”) (NYSE: AOS) announced that it has signed an agreement to acquire Pureit from Unilever. Pureit offers a broad range of residential water purification solutions, primarily in India. The acquisition of Pureit is projected to close by the end of 2024 and is not expected to have a material impact to earnings in the first year.
“We believe the addition of Pureit will strengthen our leadership position as a global supplier of premium water treatment products and will double our market penetration in South Asia. The acquisition will also support our corporate strategy by enhancing our premium product portfolio and distribution capabilities,” said Kevin J. Wheeler, chairman and chief executive officer.
“The Pureit brand, known for innovative water purification products, strong brand recognition and dedication to customer service, complements A. O. Smith’s geographic and channel presence. The Pureit team’s deep understanding of consumer needs and water treatment expertise adds tremendous strength to A. O. Smith in India and we look forward to welcoming the Pureit team to the A. O. Smith family,” said Parag Kulkarni, president of A. O. Smith India Water Products Private Limited.
Rohit Jawa, chief executive officer and managing director of Hindustan Unilever Limited, commented, “This move is in line with our strategic intent to focus sharply on our core categories. Pureit provides essential water purification solutions to millions of loyal consumers, and I am confident the brand will thrive further under the ownership of A. O. Smith.”
